THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Sunday News Roundup

China's Hony buys Pizza Express for £900m, Sports Direct to embark on Australian adventure, Buy Halfords as cycle fever rages on, Swoop on Co-op, Mothercare fights off suitor with new store shake-up, Cinemas manager? Because he’s worth it? Chinese private equity group snaps up PizzaExpress

SUNDAY PAPERS

Sunday News Roundup

China's Hony buys Pizza Express for £900m, Sports Direct to embark on Australian adventure, Buy Halfords as cycle fever rages on, Swoop on Co-op, Mothercare fights off suitor with new store shake-up, Cinemas manager? Because he’s worth it? Chinese private equity group snaps up PizzaExpress

Telegraph

Chinese investment group Hony Capital has agreed to buy restaurant chain Pizza Express for around £900m. Hony clinched the deal after winning an auction process that attracted rival Chinese investment firm Citic and private equity groups Carlyle, CVC, Advent and former owner TDR. The sale values Pizza Express at around ten times its £88.5m of earnings before interest, tax, depreciation and amortisation.

Sports Direct is preparing to head “down under” for the first time as part of a deal with Australian online retailer MySale Group. The London-listed sports retailer, run by founder Mike Ashley, is to open three flagship stores in Australia and one in New Zealand as part of the venture. Details of the partnership – which will also see Sports Direct open Australian and New Zealand websites – could be announced as soon as Monday.

Retail recovery looks to be taking hold in the UK and the turnaround strategy under Matt Davies is well on track. Halfords, the auto care and bicycles group, is enjoying strong bike sales that have been boosted by the Tour de France pedalling its way through Britain. The company has said that bicycle sales increased by 21pc and group sales by 7.9pc during the three months ended June 27. That is a strong start to trading in the new financial year.

Sunday Times

The billionaire cash-and-carry king Sir Anwar Pervez has emerged as the surprise favourite to buy the Co-operative Group’s pharmacies for about £600m. The tycoon’s Bestway group has seen off competition from the likes of Lloyds Pharmacy, Alliance Boots and Carlyle, the US buyout firm, and is expected to be named preferred bidder in the next few days.

Mothercare's new boss has launched a 100-day review of the struggling baby products retailer as it attempts to fend off an American suitor. Mark Newton-Jones, who was confirmed as chief executive last week after working on an interim basis for four months, will look at reducing costs, squeezing better terms out of suppliers, securing more exclusive products and cutting store numbers further. Alan Parker, Mothercare’s chairman, is understood to have asked him to report his findings and update the company’s strategy in the autumn.

As he stepped onto the podium for his first results show as boss of Burberry, Christopher Bailey looked calm. Dressed casually in a grey V-neck jumper and blue shirt, black blazer and steel-rimmed glasses, the 43-year-old started by tackling the City’s qualms head on. “As you know, my new role is an unconventional one and my background is not that of a traditional CEO,” Bailey told the audience of analysts and investors in May. “As such I will lead Burberry in my own way, but always guided by a passion for what this unique brand stands for.”

Mail on Sunday

PizzaExpress has been snapped up by a Chinese private equity group for £900 million this weekend. The deal marks one of the largest British restaurant takeovers in recent years and underlines the appetite among Chinese investors for Western businesses. It will also suit PizzaExpress’ growth strategy which has targeted China as a key market for expansion. The chain is being bought by Hony Capital, a £4 billion private equity group based in China, which until now has largely focused on investments in that market.

 

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019